Current tax reform proposals aim to replace the personal and corporate income taxes with an integrated consumed-income tax, which looks like a regular income tax but contains special provisions to eliminate the bias against saving and investment.

Tax insurance can be defined as a transfer by a ceding enterprise (a corporation) to an assuming enterprise (a major insurance company) of the liability for potential taxes due in a transaction in which the primary element of risk is financial rather than strategic.

In the Third Protocol to the Convention between Canada and the United States with Respect to Taxes on Income and Capital signed in 1995, the United States and Canada announced a general reduction in the withholding taxes on dividends, interest, and certain royalties.

Extended Due Dates The IRS granted special relief for taxpayers in various parts of Louisiana, Mississippi and Alabama struck by Hurricane Katrina by extending the due dates for filing tax returns and paying taxes until Feb.

To be sure, the idea of global taxes isn't new, but over the last four years or so, several global tax proposals have acquired dangerous new political momentum, thanks to the coordinated efforts of the internationalist establishment and the relentless "pressure from below" being applied by a phalanx of non-governmental organizations (NGOs).

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